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Fordberry PLC

Origins

The founders were in the tyre trade business and having carried the physical work ourselves realised that "the shoe maker with his hands can only produce so many per day. However with your brain there is no end at what you can achieve. Hence our brain storm the gap in the market place of trading worldwide, the world was our oyster!" Therefore, the founders’ interest in the tyre industry and in developing a new way of delivering quality was a key motivation in developing a business to supply the world with tyres and other commodities. Developments in internet technology also made the business a lot easier to manage, as one of the major challenges was to be able to move stock around the world without seeing or touching a single tyre. During the first two years, the company found it very hard to build a reputation around the world, to be able for clients to have trust in the company, especially in sending large amounts of money to the business before receiving any goods. After the first couple of years of trading, the firm’s bankers were finally persuaded of the value of the business and its potential. From that day, the company has gone from strength to strength and now it has a good reputation and very good references to be able to go and trade anywhere in the World.

Success Factor

The business’ success has been driven very much by international factors. For example, China and India, both countries in which Fordberry is operating, have their mines operating at full production for the next ten years. In addition, the shortage of natural rubber has made the giant tyre business very profitable and there is supply and demands for years to come. However, the company could not have succeeded without developing a new way of finding stock and creating a network of agents around the world looking for tyres.

The Future

Its future plans are very simple because for the next ten years. The shortage of leading brands means they are already allocated to the end users, who have priority on the available stock. Therefore, there is only one way to succeed, namely for Fordberry to make its own tyres. It has managed to be the first OTR Giant Tyre Manufacture in the UK on producing mining tyres, but because of the allocation of natural rubber that mainly the Chinese Factories are buying, it has approached a Government owned Factory in China to help manufacture a new brand MineMaster OTR tyre. The firm has invested in moulds with the Chinese Factory and will now launch these new brands which will be marketed globally and sold to existing clients and new ones. The company is getting involved in other projects, such as being able to offer international credit facilities for clients and others who needs credit facility up to 180 days. It is also setting up a logistics department which will be specialized to move any oversized commodity anywhere in the world. Finally, Fordberry is involved in the Caspian Oil Project in which the company will be responsible for raising finance for the private sector and securing leases on productive oil wells in the Caspian Region. Therefore, the future looks very bright for Fordberry PLC.